The Saudi Investment Bank Announces the Board of Directors' Recommendation for the Capital Increase by way of Issuing Bonus Shares

The Saudi Investment Bank Announces the Board of Directors' Recommendation for the Capital Increase by way of Issuing Bonus Shares

18 February 2024 08:34 AM

Element List

Explanation

Introduction

The Saudi Investment Bank announces the Board of Directors’ recommendation to the Extraordinary General Assembly for the capital increase by way of issuing bonus shares to the bank's shareholders by capitalizing part of the Statutory Reserve by way of granting one share for every four shares.

Date of Board Meeting

2024-02-15 Corresponding to 1445-08-05

Capital before increase

10,000,000,000 SAR

Capital after increase

12,500,000,000 SAR

Percentage of Capital increase

25 %

Number of shares before Capital increase

1000000000

Number of shares after Capital increase

1250000000

Reasons for the increase

To support the Bank capital base which will increase the growth percentages and meet the future increases in the Bank activities

Number of Shares Granted per Exiting Share

one share for every four shares

Nature and Value of Reserves Used in the Capitalization

2,500,000,000 SAR will be capitalized from the Statutory Reserve

Eligibility Date

The shareholders registered in the Bank's shareholders' register with the Securities Depository Center Company (Edaa) by the end of the second trading day following the date